On Monday, FuelCell Energy, Inc. (NASDAQ:FCEL) reported fiscal second-quarter results that missed analyst expectations for both revenue and adjusted earnings, reflecting continued operational and market challenges.

FuelCell Energy Earnings And Revenue

Adjusted net loss was 53 cents per share, compared with the estimated 52-cent loss. Revenue fell 5% year over year to $35.589 million, below the $40.496 million forecast.

Net loss attributable to common stockholders was $78.7 million, or $1.45 per share, versus $38.8 million, or $1.79 per share, a year earlier. Adjusted EBITDA loss improved to $17.1 million from $19.3 million.

Revenue declined mainly due to lower service revenue, as no module exchanges occurred, and weaker generation revenue from reduced output during Groton Project repairs. Higher product and Advanced Technologies revenue partly offset the declines.

Segment Performance

Product revenue rose to $18 million from $13 million. Service revenue fell to $4.2 million from $8.1 million, while generation revenue decreased to $8.7 million from $12.1 million.

Advanced Technologies revenue increased to $4.7 million from $4.1 million.

Gross loss widened to $12.9 million from $9.4 million. Operating loss rose to $77.9 million from $35.8 million, partly due to a $42.6 million noncash impairment tied to Groton Project equipment upgrades.

During the ...